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Below is a brief excerpt transcribed from Wednesday's edition of The Macro Show hosted by Hedgeye CEO Keith McCullough. |
Let’s take a look at the VIX today. You can see that a not so funny thing is happening on the way to the investing forum.
The damn VIX just won’t break trend! Just take a look at the chart.
You’d have to break down below 26 to break the VIX's bullish trend. Instead volatility makes a higher low within a bullish regime of Volatility.
That’s a problem.
So very time the VIX gets above 31, II suggest you are long of volatility.
We have immediate term upside in front-month VIX to 35.96 and you also still have implied volatility discounts, albeit less than what they were yesterday. Take a look.
Financials went from -25 to -19.
We discussed that with Portfolio Manager at Critical Mass Partners Mike Taylor, yesterday when we talked on how to run money.
I understand that an education is a very valuable thing, but so is patience in the #process.
Let’s have both of those and understand that Volatility is still the friend of the bears.
